A crypto sell-off that began in late January 2026 accelerated on Saturday January 31: more than $2.5 billion of leveraged positions were liquidated, almost all of them longs, as Bitcoin slid toward $77,000. Altcoins fell harder, and Solana dropped from about $118 to a low near $95.50 during the day.
This is a hard session because the damage came in steps rather than one flush: each bounce looked like the low and failed, and weekend liquidity made the drops sharper than the news alone would suggest.
Same engine, same hidden right-hand side — a different day's problem.